Understanding Probate

End of Life Management Toolkit #3 | by Team Passare and Robert L. Shepard

5. What to Do Next
  • Now that you have a general grasp of the probate process, keep in mind these three key points:
  • Probate is a court-supervised process to accomplish the transfer of property from a decedent to beneficiaries as directed by a will.
  • The probate process has benefits, such as court oversight and creditor protection, as well as drawbacks. Drawbacks include court oversight, delays, and expenses. You need to consider both the benefits and drawbacks of probate to decide whether avoiding it should be part of your estate plan goals.
  • It is best to arrange your financial affairs to reduce your family’s estate tax liability and to minimize the impact of probate on the administration of your estate after your death.
Take Action

Review your estate to see how you can reduce or eliminate the impact of probate upon your death.

  • Use the Probate Checklist to walk you through the process. You’ll find it on the following pages.
  • A Glossary of Terms will Help You In Understanding Probate. Its available on the following pages as a reference.

Next, be sure to download eBook #4: How to Choose Life Insurance. It explains how to choose the best life insurance for you and your family.

The information contained in this booklet is for educational purposes only and is not intended to be construed as legal advice. For legal advice, consult an attorney. The information contained in this booklet is subject to change and does not purport to be a complete statement of all relevant issues. In certain jurisdictions this may constitute as attorney advertising.

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